About Me

Saturday, 5 April 2014

Going Down?

There was a time when
London became a ghost town. Perhaps it
was a time or two depending on how you look at the figures.

Once was when the Romans
looking at the diminishing grain crops from overworked field systems, costs
incurred by deforestation, worked out mineral seams, monetary problems and the
need to import slaves to get the work done, decided enough was enough and left.

Another was because of
Yersinia Pestis, no, not a war lord, but the bug that caused The Black Death in
the 14th Century. There was a major
setback in the late 17th Century with The Great Plague. Perhaps we are due for another.

If this does happen soon
it may well be a man made one. But with
contributory factors involved that might make matters worse. If the ancient gods have their way with their
sense of humour it ought to happen when the planned HS2 rail line opens for
business.

We may think it cannot
happen in the modern world. But we only
have to see what has happened in the USA where many towns have been shattered
by the financial crisis and districts and towns deserted.

In China there are whole
cities almost empty because while the properties were built the jobs did not
come. Around the world there are other
areas where despite population growth for different reasons parts and urban areas are deserted.

In London and the area
around at the moment property prices have rocketed. One key reason for this is that along with
other money slushed into the market is large scale buying by almost any and
every money moving rich person taking advantage of the welcome they are given
with no questions asked.

There is a slight downside
to this. It is that very many of these
people do not register their properties.
Also, they are reluctant to pay much, if any, taxes but cannot be found
because our welcoming institutions allow them to hide away their titles to
wealth and property.

It could well be that if
the inward flows of money continue to accelerate the amount of property in
London, much if it unused and most of it not paying any taxes or charges means
that Councils and others can no longer to fund services.

So values that put
property beyond any ordinary people, many left unoccupied, declining or absent
services and the inability of the authorities to identify ownership or
responsibility could lead to a gradual attrition and then collapse of
population.

Key to this is the failure
to ensure the registration of property, and to know the identity of owners,
users and others which means no action can be taken. If this continues then what starts as a
cyclical decline could keep going down.